reported from the source

Quick summary: Michael Burry, known for predicting the 2008 financial crisis, stated he is not shorting Tesla shares despite calling the company ‘ridiculously overvalued.’

Renowned investor Michael Burry on Wednesday said he is not currently shorting Tesla shares after calling the electric vehicle maker ‘ridiculously overvalued.’ In a social media post on X, the Scion Asset Management founder responded to a user asking if he would bet against Tesla, saying, ‘I am not short.’ Burry clarified his position after describing Tesla as ‘ridiculously overvalued’ in a separate post. He made the same assessment of Tesla’s stock valuation to subscribers to his new paid Substack newsletter earlier in the month. Burry recently made headlines with a tech short bet, stating that some of America’s largest companies were using aggressive accounting to inflate their supposed profits from the artificial intelligence boom. His latest comments on Tesla come shortly after the company published delivery estimates indicating a lower-than-expected outlook. Deliveries are the closest approximation of vehicle sales reported by Tesla but are not precisely defined in the company’s shareholder communications. Tesla compiled an average estimate for 1.6 million vehicle deliveries in 2025, down roughly 8% from 2024, putting the company on track for its second straight annual drop. Tesla has experienced significant fluctuations this year, with shares recently reaching an all-time closing high of $489.88 before collapsing in the first quarter amid competition from Chinese EV manufacturers and reputational fallout from Elon Musk’s political rhetoric. Shares of Tesla were up slightly in afternoon trading Wednesday, with the company’s stock gaining more than 12.5% in 2025.

Source: www.cnbc.com